Summary by Moomoo AI
Marathon Digital Holdings, Inc. (Marathon Digital), a leading bitcoin mining company, has reported significant developments and financial performance for the quarter ended March 31, 2024. Financial Performance: Marathon Digital's revenues soared to $165.2 million, a substantial increase from $51.1 million in the previous year, driven by a rise in the average price of bitcoin mined and the introduction of hosting services. The company's net income also saw a remarkable rise to $337.2 million, up from $118.7 million year-on-year, largely due to gains on digital assets. Business Development: Marathon Digital has been actively expanding its operational capabilities. The company acquired two operational bitcoin mining sites, enhancing its hosting services and operational efficiency. Additionally, Marathon Digital acquired a bitcoin mining data center in Garden...Show More